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  3. 7. garden depot is a retailer that provided th

7. Garden Depot is a retailer that provided the following budgeted...

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Accounting

7.
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Garden Depot is a retailer that provided the following budgeted cash flows for next year: The company's beginning cash balance for next year will be $47,000. The company requires a minimum cash balance of $10,000 and may borrow money at the beginning of any quarter and may repay any part of its loans at the end of any quarter. Interest payments, based on a quarterly interest rate of 3%, are due on any principal at the time it is repaid. For simplicity, assume interest is not compounded. Required: Prepare the company's cash budget for next year. Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign

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